Dr Mahamudu Bawumia, the flagbearer for the New Patriotic Party (NPP), has unveiled plans to establish a Mining Development Bank as part of his proposed initiatives to revitalize Ghana’s mining sector, should he be re-elected in the upcoming presidential elections.
In a recent Facebook post following engagements with community leaders and stakeholders in the Jirapa, Sissala East, and Sissala West constituencies, Bawumia outlined his vision for the mining industry, emphasizing the need for more significant national benefit from the country’s mineral resources.
Despite decades of mining activities in Ghana, Bawumia highlighted that the sector has yet to yield the expected economic benefits for the nation. He proposed several reforms aimed at enhancing the sector’s contributions to the economy:
Establishment of a Mining Development Bank: Aimed at providing financial support and development resources tailored to the mining sector’s needs.
Enhanced Geological Exploration: He pledged to resource the Geological Survey Department to improve exploration efforts adequately.
100% Ghanaian Ownership: Ensuring full Ghanaian ownership of proven reserves designated for small-scale mining.
Plant Pools and Shared Facilities: Plant pools in mining areas will be created to facilitate shared usage and improve operational efficiency.
Decentralization of Mining Licensing: Distribution of mining licensing processes to all mining districts to streamline and localize operations.
Promotion of Community Mining Schemes: Support for licensed community mining initiatives to generate employment and economic opportunities at the local level.
Bawumia’s commitments aim to address long-standing issues in the mining sector and bolster its contribution to Ghana’s economic growth. He concluded his post with a confident assertion that these goals are achievable, emphasizing, “It is possible.”
